Next Generation Partners

Banking, finance and capital markets in Iceland


BBA//Fjeldco has demonstrable experience in the banking, finance and capital markets arenas, with a first-class track record in handling complex financial restructurings on behalf of major banks and financial institutions; the team counts Islandsbanki, JP Morgan and Barclays among its extensive client roster. Other core disciplines for the group encompass providing advisory services regarding capital raisings and public listings, creating complex financial strategies for M&A transactions, and handling reorganisation projects. Bjarki Diego has substantial experience in the space and lends his expertise to high-end M&A and capital financing transactions. He acts as practice co-head alongside Halldór Karl Halldórsson, who has been active on cross-border financing matters. Founding partner Ásgeir Ragnarsson is another important contact in the department, frequently representing the firm's top-end clients, while senior associate Stefán Reykjalín is a key name for regulatory, fintech and cryptocurrency mandates.

Practice head(s):

Halldór Karl Halldórsson; Bjarki Diego

Other key lawyers:

Ásgeir Ragnarsson; Stefán Reykjalín

Key clients

Kvika bank


Arion Bank

Arctic Green Energy

Lykill fjármögnun


Rapyd Europe


DNB Bank


Danske Bank

Strengur Holding

DC Advisory


RPC Group



Barclays Bank

JP Morgan


Japan Bank


Work highlights

  • Acted as legal adviser to TM, Kvika banki and Lykill fjármögnun as merger entities throughout the merger process including drafting transaction documents, due diligence, competition matters, tax matters and regulatory issues in relation to the Financial Supervisory Authority and NASDAQ OMX Iceland.
  • Advised Alvotech with respect to its dual listing on the Nasdaq Stock Market and Nasdaq First Growth Market in Iceland, as well as with respect to private investment in public entity (PIPE), prior to the listing, in particular from Icelandic PIPE investors.
  • Advised KfW-IPEX Bank in relation to the financial restructuring of its project finance facilities agreement.

Lex Law Offices

Lex Law Offices is vastly experienced when it comes to banking, finance and capital markets matters with a client list spanning both domestic and international institutions, including Digital Bridge and Capital Four Management; the firm advised the former on its acquisition of over 400 telecoms infrastructure towers, with the mandate led by corporate finance and debt restructuring expert Guðmundur Ingvi Sigurðsson. Practice leader Ólafur Haraldsson regards corporate consultancy work as a key strength, while Stefán Orri Ólafsson specialises in advising companies on disclosure requirements relating to regulated securities markets.

Practice head(s):

Ólafur Haraldsson

Other key lawyers:

Guðmundur Ingvi Sigurðsson; Stefán Orri Ólafsson; Fanney Frímannsdóttir

Key clients

Kara connect

Kría – Icelandic Venture Initiative


Digital Bridge

Capital Four Management


Iceland Seafood International



Fossar investment bank

Arion banki



Nasdaq CSD

Work highlights

  • Advised Digital Bridge on its acquisition and financing of over 400 passive telecoms infrastructure towers all around Iceland.
  • Assisted the Minister of Tourism, Industry and Innovation with setting up Kría, an independent fund owned by the Icelandic state, and advised on the rules applicable to Kría.
  • Advising Carbfix on the incorporation and financing of the Coda Terminal Project, a scalable onshore CO2 mineral storage hub.


LOGOS remains a pre-eminent domestic firm for banking, finance and capital markets mandates. The team specialises in work across both high-end capital markets issues and regulatory matters regarding funding and borrowing. In terms of significant clients, the firm's roster spans both domestic and international financial institutions: Arion Bank, Landsbankinn, Citigroup and Goldman Sachs are key examples. Team co-head Óttar Pálsson specialises in M&A-related work and his practice has recently focused on acting as local counsel for international firms on Icelandic matters; in 2022, he led on a cross-border merger by way of acquisition. Fellow co-head Thórólfur Jónsson focuses on securities regulations and banking mandates.

Practice head(s):

Óttar Pálsson; Thórólfur Jónsson

Other key lawyers:

Benedikt Egill Árnason; Guðbjörg Helga Hjartardóttir


‘They are a very seasoned team of talented people, headed by Óttar Pálsson. They provide valuable advice during deal-making and provide professional communication. Their project management and consistent quality of final product stand out.’

‘Óttar Pálsson is one of a kind when it comes to banking and finance in Iceland. As a former banker, an avid transactional lawyer and highly respected litigator, he brings a unique perspective, valuable insight and consistent results to the table. He is highly sought after by banks and parties on both the sell and buy side in larger transactions.’

‘The team comprises of excellent individuals who have good knowledge and expertise.’

‘Logos have a broad and competent depth of personnel. Our companies operations span a wide range of businesses within the same industry and often requires very different kinds of legal and advisory counsel. Logos have proven to have the right person with their dedicated skill set for the task every time, and on the spot.’

‘Logos have proven to always be at your service. They respond quickly, well and immediately find the right person, with the right skill set, to meet your needs. I have worked with Benedikt Egill Árnason who has proven to possess a second-to-none mindset that you can trust and lean on.’

‘LOGOS has been involved in most of the important transactions taking place in Iceland and has extensive experience in all manner of finance related transactions.’

‘I work most often with Benedikt Egill Árnason who is one of the best lawyers I have ever worked with in my nearly 40 years as a lawyer, both in America and in Iceland. He is smart, thoughtful and eminently capable.’

Key clients

Arion Bank

Kaupthing Bank

Goldman Sachs International

Deutsche Bank

Alfa Framtak

Crowberry Capital





Novator Partners LLP

Verne Global Data Centres


New Business Venture Fund


Vordur Insurance

Ministry of Industry and Innovation

Frumtak Ventures

Eyrir Ventures

Morgan Stanley

Laxar eignarhaldsfelag

Laxar Fiskeldi

Icelandic State Financial Investments

Nordural Grundartangi

Archer Norge

Sidekick Health

Islensk verdbref

Work highlights

  • Advised Citigroup, JP Morgan and Islandsbanki, as joint global coordinators on Islandsbanki’s IPO, subsequently advising the Iceland State Financial Investment on a further sale of Islandsbanki shares through an accelerated bookbuild.
  • Advised Arion bank on the financing of Heimstaden, an Icelandic subsidiary of a European residential real estate investor and manager.
  • Advised the shareholders of Laxar fiskeldi as sellers on a cross-border merger with Ice Fish Farm, a company listed on the Oslo Stock Exchange.

ADVEL Attorneys at Law

ADVEL Attorneys at Law is home to an experienced team of banking and financing practitioners, regularly engaged on complex cross-border mandates on behalf of a client roster that includes Arion bank, Virðing and LSS Pension Funds, among others. The practice group frequently collaborates with international firm Allen & Overy LLP, particularly when providing advisory services to Arion bank, including on its €3bn EMTN programme. Practice leader Stefan Þór Ingimarsson excels in complex cross-border transactions and advises on the refinancing of domestic companies; he is supported by other key points of contact Dora Sif Tynes, Ragnar Guðmundsson and Bjarni Þór Bjarnason.

Practice head(s):

Stefan Þór Ingimarsson

Other key lawyers:

Ragnar Guðmundsson; Dóra Sif Tynes; Bjarni Þór Bjarnason

Key clients

Arion bank


Advania Group

Klappir Green Soulutions






Reitir Real Estate

Work highlights

  • Advising Arion Bank on its EMTN programme.
  • Advising Arion Bank on its Covered Bonds Programme.
  • Advising Arion Bank in relation to issuances under its EMTN programme, as local advisers to the issuer.


Banking and finance is a core practice at Juris, which exhibits a demonstrable track record across the full-suite of services in the space, spanning litigation, transactional work, regulatory issues and project financing matters. Large-scale project financing mandates remain a key strength of the practice group across a variety of sectors, including the shipping, fishing, energy, TMT and property development industries, among others. Three lawyers jointly lead the team: financial litigator Andri Árnason, tax specialist Halldór Jónsson and Sigurbjörn Magnússon. Ex-banker Simon Knight focuses on project finance, syndicated lending and financial regulatory matters.

Practice head(s):

Halldór Jónsson; Andri Árnason; Sigurbjörn Magnússon

Other key lawyers:

Simon Knight; Vífill Harðarson; Finnur Magnússon; Stefán A. Svensson


‘Very good service and have experts in all fields and good contacts abroad if needed.’

‘Finnur Magnússon produces outstanding work and has a good response time. Simon Knight is strong on loan agreements and related documents as well as cross-boarder deals.’

‘Stefán A. Svensson is one of the best attorneys I have worked with in this field. He is exceptionally smart and solution minded.’

Key clients



Summa Rekstrarfélag

Kvika banki


Gamma Capital Management

Ísfélag Vestmannaeyja

Work highlights

  • Advised Bakkastakkur and Icelandic pension funds on the restructuring of project finance for the PCC BakkiSilicon silicon plant.
  • Advised Kvika banki on the development of its payments business, including the acquisition of a part of Valitor’s merchant portfolio.
  • Representing Landsbankinn in cases regarding the legality of variable interest rates in consumer mortgages.


The banking and finance team at Lagahvoll combines the practical knowledge of its deep bench of practitioners with industry-specific expertise across a range of matters emanating out of the sector. The practice group sees frequent work relating to bond issuances, borrower-side mandates, investments, risk reviews and crisis management issues. With a focus on company law, restructurings and private equity transactions, Daði Bjarnason jointly leads the team with fellow co-head Jóhann Sigurðsson.

Practice head(s):

Daði Bjarnason; Jóhann Sigurðsson

Key clients


Data Lab Ísland


Carbon Iceland

Iceland Food


Félag eldri borgara í Reykjavík og nágrenni


Weird Pickle




Landslog – Law Offices

Landslog – Law Offices acts on behalf of major banks and large domestic corporations on a full-range of matters in the space, noted for a strong track-record on bond issuances, including asset-backed bond issuances. The team counts Islandsbanki, Central Bank of Iceland and Hagar as key clients. Partners Jóhannes Karl Sveinsson, Jóhannes Bjarni Björnsson and Viðar Lúðvíksson jointly lead the banking, finance and capital markets practice group.

Practice head(s):

Jóhannes Karl Sveinsson; Jóhannes Bjarni Björnsson; Viðar Lúðvíksson

Key clients


Syn (Vodafone Iceland)

Vodafone Iceland

Central Bank of Iceland



Arctic Fish

The Icelandic Housing and Construction Fund


Lifsverk Pension Fund

Work highlights

  • Advised Arctic Fish in relation to the company’s successful private placement.
  • Providing legal counsel to the Arctic Fish group during an initial refinancing and both amendments.
  • Advised on and prepared documentation for a share capital increase for e-sports club Dusty.